Ben & Jerry's Takes Steps To Solidify Leadership Position In Super Premium Ice Cream Market

(Thursday, October 24, 2002) - Ben & Jerry's today announced a decision to reduce its workforce by six percent, or by 52 employees, as part of an overall plan to bolster its leadership position and fuel the future growth of this 25-year old company. Through this action, Ben & Jerry's will be better poised to meet U.S. market challenges and continue its strong record of innovation.

"Even though this was a difficult decision, it is the right thing to do for the sake of the business and its long-term future," said Yves Couette, president and Chief Executive Officer. "Maintaining Ben & Jerry's as a Vermont-based business and furthering our long and notable legacy of social responsibility are among the most crucial things I can do as leader of this wonderful company."

The workforce reduction, coupled with the recently announced plan to streamline manufacturing operations, will allow Ben & Jerry's to redirect resources more strategically and compete more effectively. Ben & Jerry's will continue its tradition of treating employees fairly and with respect, and will provide those affected by today's decision with severance packages and assistance to help in making the transition as smooth as possible in the months ahead.

About Ben & Jerry's

Ben & Jerry's produces a wide variety of super premium ice cream, ice cream novelties, low fat ice cream, low fat yogurt and sorbet, using Vermont dairy products and high quality, all natural ingredients. The company is committed to using milk and cream that have not been treated with the synthetic hormone, rBGH. Ben and Jerry's products are distributed nationwide and in selected foreign countries in supermarkets, grocery stores, convenience stores, franchise Ben & Jerry's scoop shops, restaurants and other venues.
Ben & Jerry's, a wholly-owned autonomous subsidiary of Unilever, operates its business on a three-part mission statement emphasizing product quality, economic reward and a commitment to the community. Ben & Jerry's contributes a minimum of $1.1 million annually* through corporate philanthropy that is primarily employee led. Contributions made via the Ben & Jerry's Foundation in 2001 totaled over$1.4 million. Additionally, the company makes significant product donations to community groups and nonprofits both in Vermont and across the nation. The purpose of Ben & Jerry's philanthropy is to support the founding values of the company: economic and social justice, environmental restoration and peace through understanding, and to support our Vermont communities.

*annual contribution is adjusted upward to allow for sales growth and inflation

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